NFT News by Thebittimes.Com

Notorious crypto mixing service Tornado Cash laundered more than half a billion worth of crypto in 2023. Although the U.S. imposed sanctions against Tornado Cash in late 2022, the mixing service is still helping criminals launder hundreds of millions worth of cryptocurrencies. According to data compiled by SlowMist, in 2023 alone, Tornado Cash saw around 314,740 ETH in withdrawals, valuing at around 818.3 million at current prices (or $567.2 million based on 2023 rates). In 2023 alone, we saw 342,042 ETH deposited and ~314,740 ETH withdraw from Tornadocash, followed by users depositing 47,235 ETH into eXch and 25,508,148 ERC20 stablecoins into eXch. pic.twitter.com/Mto7ExNwIi — SlowMist (@SlowMist_Team) January 11, 2024 According to the analysts, North Korea-affiliated hackers Lazarus Group have shifted gears, becoming less visible as they focused on launder ing the “enormous cache of funds purloined in 2022.” Despite still a significant amount of funds being l...

As sanctions have cut Russia off from the global economy, the local central bank hopes its digital currency will help it revive international trade. The Bank of Russia is working on a way to use its digital ruble for cross-border trades to “ avoid super-close attention ” from U.S. regulators. A deputy chairman of Russia’s central bank, Vladimir Chistyukhin, said on Sept. 21 that the central bank basically wants to circumvent sanctions with the digital ruble. Per a report by RussHowever, he admitted that the idea would not work without involving the other “friendly” party. “In this regard, [with the digital ruble] we could avoid super-close attention at least from Western banking systems. But this requires serious political will from regulators and leadership of these friendly countries in order to achieve mutual interoperability of these operating systems.” Vladimir Chistyukhin You might also like: North Korean hackers turn to...